GMS Investor Conference Presentation Deck
Reported SG&A to Adjusted SG&A
(Unaudited)
($ in millions)
SG&A - Reported
Adjustments
Stock appreciation rights
Redeemable noncontrolling interests
Equity-based compensation
Severance and other permitted costs
Transaction costs (acquisition and other)
Gain (loss) on disposal of assets
Debt transaction costs
SG&A - Adjusted
% of net sales
GMS
GYPSUM MANAGEMENT & SUPPLY, INC.
(A)
(B)
(C)
(D)
(E)
$
Reconciliation
1Q23
267.7 $
(2.3)
(0.5)
(3.1)
(0.4)
(0.4)
0.3
261.3 $
19.2%
2Q23
279.0 $ 267.4 $
(3.2)
(0.3)
(3.8)
(0.4)
(0.3)
(0.1)
3Q23
270.9
18.9%
(0.3)
(0.4)
(3.3)
0.3
(0.5)
0.4
263.6 $
21.4%
4Q23
279.8 $ 1,093.8 $
(1.8)
0.0
FY2023
(3.0)
(2.4)
(0.8)
0.8
(7.7)
(1.2)
(13.2)
(2.9)
(2.0)
1.4
(0.2)
(0.2)
272.4 $1,068.1 $
20.9%
20.0%
1Q24
286.8
(1.2)
(0.5)
(3.3)
(0.4)
(1.4)
0.1
(0.9)
279.2
19.8%
Commentary
A. Represents changes in the fair value of
stock appreciation rights
B. Represents changes in the fair value of
noncontrolling interests
C. Represents non-cash equity-based
compensation expense related to the
issuance of share-based awards
D. Represents severance expenses and
other costs permitted in calculations
under the ABL Facility and the Term
Loan Facility
E. Represents one-time costs related to
acquisitions paid to third parties
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